Frank Knight Quotes

In the long run all producers are forced to use the most efficient methods or give place to others who do.

Market competition is the only form of organization which can afford a large measure of freedom to the individual.

Knowledge is more a matter of learning than of the exercise of absolute judgment. Learning requires time, and in time the situation dealt with, as well as the learner, undergoes change.

Sociology isthescience of talk, and there is onlyone law in sociology. Bad talk drives out good.

Costs merely register competing attractions.

There is no sense in making statements that will not continue to be true after they are made.

The truth seems . . . to be that in the ultimate and essential problem the economic factor is relatively superficial and unimportant.

All science is static in the sense that it describes the unchanging aspects of things.

We have to adapt and overcome, that's all we can do.

It is true practically if not altogether without exception that the changes studied by any science tend to equilibrate or neutralize the forces which bring them about, and finally to come to rest.

Goods move in response to price differences from points of low to points of higher price, the movement tending to obliterate the price difference and come to rest.

Conflicting economic interest is relatively unimportant as a cause of war.

Always history is being made; opinions attitudes and institutions change, and there is evolution in the nature of capitalism

...even professors of economics, to say nothing of the public, do not generally have scientific minds.

One-third of your plays are special teams, so to block a punt and get good field position out of it and score was big.